Buyers will have an easier time borrowing more for a home purchase in 2020
News from the Federal Housing Financing Authority provides the latest figures for the threshold for non-jumbo mortgages and the numbers show a significant increase yet again. For 2020, the limit will raise to $510,400 for most areas in the country and $765,600 for high cost of living areas.
This is an increase of 5.38%, in line with the average increase of home sales prices over the past year according to their analysis. This could make things slightly favorable for buyers, especially first-time buyers, since most predictions for the first part of the coming year have price growth staying under 5% (according to
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